Economy Latest: Interest rates up as Bank of England warns of long recession
2022 ж. 2 Қар.
752 605 Рет қаралды
People are already struggling with soaring costs and a tax burden, the highest since World War Two.
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Now the Bank of England is preparing us all for years of economic pain.
Yet today it responded with the biggest interest rates rise for 30 years.
The Bank said it had no choice because it needed to control high inflation.
So how are people preparing?
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Because wealth usually moves during recessions, the more stocks fall, the more I buy. In the meantime, I'm just focusing on increasing my investments and income while recession fears grow. I read about someone who made $$$ in profit in just six months, so there are apparently ways to triple gains in the current market. Which stocks are the best to buy right now or add to a watch-list?
Find stocks that, in the long run, at least keep up with the market and offer higher yields than the market. For a successful long-term strategy, I recommend consulting with a broker or financial advisor.
That is correct. For the past 23 months, I've been in daily contact with a financial advisor. The difficult part of investing these days is determining when to sell or hold a company when it is trending. My supervisor can advise me on points of entry and exit in the sectors in which I am now active. I can't say I'm sorry because my profits increased by 63% in the third quarter of 2022.
I'm glad I came across this discussion. Please leave your financial adviser's contact information here. I desperately require one. If she is FINRA-registered, she will be easy to find.
My adviser is Sharon Lee Casey. You can easily look her up. She has years of financial market experience and she is also FINRA & SEC verifiable.
Thank you for your help. I found her website on the first page of my search, read her resume, and researched her before sending her a message. As a result, I'm hoping she responds soon.
With markets tumbling, inflation soaring, the Fed imposing large interest-rate hike, while treasury yields are rising rapidly-which means more red ink for portfolios this quarter. How can I profit from the current volatile market, I'm still at a crossroads deciding if to liquidate my $125k bond/stocck portfolio
Focus on two key objectives. First, stay protected by learning when to sell stocks to cut losses and capture profits. Second, prepare to profit when the market turns around.I recommend you seek the guidance a broker or financial advisor.
Right, I've been in constant touch with a fiinancial-analyst since covid . You know these days it's really easy to buy into trending stock`s, but the task is determining when to buy or sell . My advisorr decides entry and exit commands on my portfoliio, I've accrued over $550k from an initially stagnant reserve of $150K
@@aigajenkinson2495 Can you leave the info of your investment advisor here? I’m in dire need for one.
@@alexanderfinlay9639 My advisor is "Corinne Cecilia Heaney" You can easily look her up, she has years of financial market experience.
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To my understanding this just proves how much we need an edge as investors because playing the market like everyone else just isn’t good enough. I've been quite unsure about investing in this current market and at the same time I feel it's the best time to get started on the market, what are your thoughts?
I always found the idea of using spreadsheets very time consuming and unnecessary. I just dump a bunch of money into my savings accounts each month and keep my spending money in a separate account and try to spend as little as possible.
@@jenniferpowell23 I don’t have a full time job, I’m just self-employed with various income streams and regardless of how much I make each month I stick to the same budget and live below my means
@shane heried Once I had $500k I could quit my job and become a full time investor
12 years of Tory rule, yet it’s everybody’s else’s fault.
And labour would be worse..so they keep saying,like a stuck record.pmsl.
False
Well it’s certainly not helped by a global pandemic and war, the global markets aren’t looking great currently and everything is correlated.
Lockdown bill is due. Even though I wasn't on furlough. 😭
Think of all the lives saved! Worth every penny!!
When 3rd world countries suffer economic problems, it’s always their own fault, when one of the worlds richest economies suffers economic problems, “it’s out of their hands”.
Nice!
True! They fucked up now!
dude that is exactly how it is.
Show me a 3rd world country without a corrupt government and we might be able to take your comment seriously
@@rww805 Show me a 1st or 2nd world country without corrupt goverment....
Investing is too "risky" so better save your money. while in reality it is in fact a necessary act to fight against inflation. it was an enlightening moment for me when i learned how money really works. Now I only wish I had started in my twenties and had more time to take full advantage of the bulls and bears. Now I own 3 rental properties, started my own business and my net worth has increased by $500,000
The markets are a trap for the avaricious. Don’t believe me, then let me know how it feels to loose it all, just before jump out the 20th story window! Did you ever hear of 1929, this is going to be worse. The banks will fail first, followed by the markets, then the housing markets.
@Bobby Blue I agree. The uncertainties that come with this current market are yet another reason why my daily investment decisions are guided by an investment advisor named NATALIE PAIGE HARWELL, as their entire skill set is built around being long and short at the same time, using to both a profit-driven strategy and removing risk as a hedge against the inevitable downtrends. Brought in over $1.5 million in ROI, since using an investment advisor for about 2 years.
@@carter3294 I know I've wanted to start investing for a few mnths, but I just haven't had the courage to start because the market has been down for most of this year. Please how can I count with such skills?
@@stevensmiddlemass2072 You can take a look at her full name on the internet. She is renowned so it shouldn't be difficult to find her
Give some to charity then
Don't worry you have a leader who is worth 750 million in charge, he knows what its like to struggle with heating bills and food
His worth could pay off a large part of the country's debt.
@@johnjephcote7636 a drop in an ocean
@@johnjephcote7636 I see why Brits have problems with money currently. Addition and subtraction is hard for some, I guess
rishi is britain's oligarch, ye reap what ye sow
Lol, all we can do is beg and be jealous. How about shutting the borders and showing a middle finger to the freeloaders who are raking billions
Why are we not raising a windfall tax on the profiteering energy firms?!
Don't forget we pay vat on all that money to the government as well. Surely its better that we don't pay massive bills in the first place and then vat too.
Because they are global companies and they’ll restructure themselves so their profit centres are offshore, in countries with lower taxation.
Impossible to implement due to offshore taxation chicanery. Oh yes! We've been completely fucked over.
Because that will make them increase energy price more?
Pros and cons of nationalising? I am no expert on this at all, so will be good to learn
Bankers and politicians should be held accountable
tru
@Kostchtchle what you call poor choices I call indoctrination.
Top 1% pay 30% of taxes. We are a lazy and unproductive. Generation ‘can’t work, won’t work’.
Make big corporations accountable. This is where it all begins.
@@JamieHumeCreative big corp invest money in the UK so it is the the big corp it is the spineless UK politicians. However you cant arrest the politicians because they have the police in the side to protect them. When my 2 kids grow up i will tell them to get into the police force - There is always jobs around and they areabove the law because they have their own police to police them. It's like asking your fat friend to make you go to the gym to get fit.
12 years of Conservative incompetence.
Don't forget about Farage destroying the lives of hundreds of thousands
Englishmen/Englishwomen lack self-awareness. The day the UK hits rock-bottom, they'll find a lame excuse to vote Tory.
@@Blackmamba12345 - Project Fear!
@@Blackmamba12345 - lol you did not get it 😂🤣
@@nickyd922 I'm sure he's Putin's mouthpiece. All he does now is regurgitate everything that the Kremlin says. When Putin was blaming the EU and NATO for Russian troops invading Ukraine, so was Farage. MI6 might want to tap his phone, as the UK leaving the EU helps Putin no end.
There are obviously external factors to this, but the incompetence to navigate these tough times has made it way worse.
Always blame external factors, your government need to take more responsibility.
Brexit.
BREXSHIT!!!!!!!!!
@@ridwanomar5351 a pandemic... war on the continent? does these not factor in at all for you?
With the fact that the UK does not even dare to say that inflation in its country is due to the US raising interest rates, it really shows the double standards and hypocrisy of the British nation.
With inflation running at a four-decade high, a Recession is now the ‘most likely outcome for the economy. How can I grow my portfolio to outpace inflation and maintain a successful long-term strategy? I have been reading of investors making about $250k profit in this current crashing market, and I need ideas on how to achieve similar profits
Get a job
3 words: diversify & index funds.
@@user-Aa310 And is a word, so that's 4 words, genius.
@@Peter-gy4zf I think you're intelligent enough to get my point.
@@Peter-gy4zf And, sorry &, how do you know I'm not a genius? Maybe, maybe not. Let's just address the subject matter. No need for personal attacks.
The stock market is a way to hedge against inflation. Most notably amidst recession, investors need to understand where and how to allocate funds to hedge against inflation and still make profits.
in my opinion, the impact of the rise or fall of the U.S. dollar on investments is multi-faceted but learning how to grow your money has never been easier than now that you can explore and experience a truly diverse marketplace passively by using a well-performing portfolio-advisor
@@sheliaswelttk2535 ,I agree, having a portfolio-advisor for investing is genius! Not long ago amidst the pandemic crash in March 2020, I was really having inveesting nightmare prior touching base with a license portfolio-advisor. In a nutshell, i've accrued over $550k with the help of my advisor from an initial $120k investment thus far.>
@@dingyraskal34 Trying times are ahead, and good personal financial management will be very important to weather the storm. It would be very a innovative suggestion to look out for Financial Advisors like " Amy Priscilla Raskin, who can help shape up your portfolio.
@@davidnewbury1721 I just looked up this person out of curiosity, and surprisingly she seems really proficient. I thought this was just some overrated BS, I appreciate this.
What Jeremy Hunt said is simply wrong, a governments budget isn't the same as a household budget. Austerity cuts is a political choice and nothing more, our public services are struggling as it is.
"A national budget is like a personal budget only if you have thirty international bankers on speed dial who have a vested interest in your personal budget, and are willing to bend over backwards to help you succeed." -Paul Krugman
And who voted for this?
So agree. The city of London is not the British people x
I like to call him Micheal, Mike Hunt has anyone seen Mike Hunt?
Agreed
Too many very very rich people and millions of unnecessarily poor people. There is no trickle down wealth that will ever get to the poorest because the rich will take even more and the poor will get next to nothing and barely be able to survive, ..many won't survive.
When was the utopian time that every one was equal and accumulating wealth was forbidden?
I didn’t see anyone actually protesting against the king being exempted from succession taxes. Serf mentality won’t help to change the system.
That's how capitalism works...a race to the bottom, with a few winners left standing.
But that's okay. The poor exist to serve the rich, and if millions of poor die, so what? There are always more where they came from -- and they breed like flies. So what's the problem 😕?
@@pansepot1490 Have you thought about opening an import business focusing on guiottines?
We are currently in the jaws of the worst bear markets I have seen, the average stock has been cut in half, and the only way to make money this year has been to either short or to trade long in very short time frames. I'm still at a crossroads deciding if to liquidate my dipping $117k stock portfolio, what’s the best way to take advantage of this bear market?
The uncertainties accompanying this present market is more reasons I have my daily investment decisions guided by a portfolio-coach seeing that their entire skillset is built around going long and short at the same time, both employing profit-oriented strategy and laying off risk as a hedge against the inevitable downtrends, coupled with the exclusive analysis, it's quite impossible not to outperform. Netted over $550k in return on investment, since using a coach for about 2years.
@@bsetdays6784 Do yo mind if I ask you recommend this particular coach you use their service? I have trouble knowing when to buy or sell.
@@cuddyb9631 Sure, the investment-advisor that guides me is Lucy Holden Coyle , she popular and has quite a following, so it shouldn't be a hassle to find her, just search her
Just copied and pasted Lucy’s name on my browser and her website popped up immediately, thank you for saving me hours of researching.
Great interview as always. Thank you 🙏
People have to balance their money and tighten their belts, but whilst people's money goes down, Ministers money goes up. No cuts for politicians or bankers, it is always the public that suffer, and it is always the same old story. 12 years of austerity - whilst billions of pounds are pumped out of the economy to advance other countries and bring ours to financial ruin.
You're wrong about money being "pumped out" that's propaganda to get you to hate groups that don't affect you. The money was handed to the already rich, that's the point of the tories.
WHICH COUNTRY...GOT THE 37 BILLION...PUMPED OUT TO FUND, TEST AND TRACE....IN ENGLAND..???
Well at least the Government is making savings too like using RAF helicopters to travel 20 miles instead of driving 🥴
It's the rich that gets the pleasure, it's the poor that gets the blame.This is all going to plan isnt it.
the British people always have an excuse. get an education and become high earners.
How about you tax the super rich then
They do😂😂😂😂
@@pattymatty36 what's a non dom?
That will not be the same as taxing us plebs - I pay 45% tax rate, and they will squeeze the majority of the people more. But we have to do it unfortunately - the bone idle take more from the system
They do.. BUT... If I have 10,000,000 I only get taxed if I buy myself things with it or pay myself a salary. So, instead of taking a wage or buying a house and paying TAX, they just take out loans and pay them off immediately, NO TAX TO PAY.
@@mlguy8376 SPOILER: It's not the bone idle. That's Government bullshit to drive hate and division. Simple fact is, over 60% of benefit payments are PENSION. Besides, who is bankrupting the country, is it people on £318 per month Universal Credit, or MP's on £80,000 a year with £250,000 expenses and inside deals moving millions in tax payers money into private businesses owned by MP's and their wives / husbands???????
The interest rate issues stem all the way back to 2008 when bailing out the catastrophic actions of the banks, kept the rates at ludicrously low levels for far too long ... and now it's time to pay the piper ...Sadly, its the lowest on the tree that will feel the brunt of it, as always ...
Why is it the most intelligent comments have the fewest likes? I suspect it’s because they don’t want to acknowledge that they themselves were either complicit (supported lockdown) or beneficiaries of sustained low interest rates (property owners)
What cause’s inflation? Milton Friedman in 30 seconds." Maybe it has something to do with the billions that Democrats printed for the Covid Relief Program and my my favorite oxymoron - The Inflation Reduction Act. The current administration caused this.
@@thecfbutcher1174 Absolutely.
We’re in this problem because all the top jobs are given to people who are unqualified and unfit to carry out their duties.
...and because the people voted Boris in with a very comfortable majority and spit on Jeremy Corbyn when he was the only leader capable of discussing policy with facts and figures!
Old Boys Club
So many jobs are in London and no people to hire.Stop your propaganda.
Perfectly qualified. Your mistake is thinking the economy is designed to work for you. It’s working just as intended, siphoning all the wealth to the top and having you foot the bills.
@@theAEDan You have to be joking, Boris and Liz Truss and the rest of the Conservative Party are totally incompetent. Brexit is certainly part of the reason why other economies are recovering from the Pandemic and the UK instead is going backwards. The people of the UK were lied to about Brexit and now companies are leaving the UK because they can't afford the tariffs to get their products into the European Union. Fishermen, farmers and other people who voted for Brexit are now finding out it was all lies and they were taken in by a Confidence Man called Boris Johnson. The Conservative Party is going to be obliviated in the next election and they'll be lucky to regain power in a decade.
I really feel for Agatha, and wish her the best 🙏 And I'd also point out the reverse of the coin applies too. As a young professional myself, I could afford her mortgage, but can only dream of a flat like hers.... No bank would loan me anything close to the amount for those kind of conditions. House prices have priced me out for God knows how long. They need a big correction.
It's her own fault, she bought a flat not looking at historical interest rates and realizing that the ridiculously low interest rates she no doubt based her loan on would inevitably have to rise. She is winging about 3% and yet 3% is normal even still historically low. They are heading to a more realistic 6%. Her loan might have been for 20 years or more. Is she really so naive? Single mother again!!! ain't going to help these days when two incomes are usually required to run a house. UK house prices so high given the British peoples fascination with the value of their house and status.
@@marviwilson1853 easy to judge. Interest rates have been rock bottom for over a decade. We have no idea what her personal circumstances are that made her be a single mother. She is a single woman trying her best to pay her way and raise her child, why such criticism?
@@jacintacesp Because it is due. We have to be brutally honest and understand that people buy beyond their means in order to achieve perceived status in order to boastfully show off their possessions. This woman is struggling at 3% and yet interest rate are heading back to 6% as they were bound to do. Why is she so surprised? Surely she took this into account when agreeing a loan. Not sure why she is so upset. She can sell her home and buy another at a price that she can realistically afford. Problem solved - or will the new photo's not look so good on her Facebook account!
Andrew Bailey is on £500k a year; he's not worried about a thing 😂
Disgusting
He also wasn’t worried whilst pensioners were getting defrauded by hooky investment bonds whilst he was head of the FCA.
His bonuses will be millions every year
@@kristoffscuba5466 they are all at it robbing of us the poor and ruining our Earthly life times.
@@healthiswealth6797 oh of course but I bet with his tremendous self worth he will help some of us who are struggeling. Oh no that is right what with his huge ego and ego is controlled by the devil he wont be helping any of us struggeling will he. Nothing like that will ever be happening from these souless people.. It is pure evil what these fallen souless Brothers and fallen souless Sisters have done to Gods Earthly World his Earthly Realm and the misery these souless have INFLICTED upon us the Good Human Beings walking this Earthly World this Earthly Realm is absoulutly satanic.
Beautiful. I can't wait for this to arrive 👌🏻
Ideas that the govt could look into (but don't seem to mention): wealth tax (with lower thresholds to protect "average" people), tax on payments out of the UK (specifically targets "offshoring" type tax avoidance). The biggest problem is that the govt are "selling" only one option, and not putting ALL the options up for debate in Parliament.
Tories should pay for the damage they have caused. Why no one holds them accountabble?
The Tories hold the Tories to account? What a comedian you are 🤣? They voted in Truss, cost the Bank of England hundreds of billions of pounds, did trillions of pounds damage to the economy, and passed those costs onto taxpayers. You are screwed.
This is caused by debt and money printing. Started by Labour and continued by the Tories. We are hopelessly poorly managed as a country
Because ultimately, we are responsible. If they cause problem and demonstrates an incapability to fix the problem, then it is us, members of the public, that has the responsibility and capability to fix the problem. We have both more vested interest in fixing the situation and more soft power than the central government to fix this problem (but less immediately actionable powers requiring expertise). If it gets out of hand, this whole situation, then it gets in to the hands of no one else but people like you and me.
Everyone knows, even if the current governing party pay all of their money to the public as compensation, the situation will not automatically become fixed. If they are incumbent, then the public hopes that there is a slimmer of hope that they will sort themselves out. If they cannot do it in a reasonable timeframe before a certain deadline, only then the public is able to intervene.
Because we are a bunch of surfs who moan about it on the Internet and to friends and family but never actually do anything about it and they know that
Thank god those poor banks have a business model of lending money over 30+ years and can increase profits no matter the economic environment 🙏
lend our money and not pay us!
holding shares in banks have been better than holding apple or amazon lately🤞
If you can't beat 'em, join 'em.
It's nice to have control of the money supply. Increasing interest rates should get the bankers some big bonus money.
@@DJWeiWei except the money they lend is literally created out of thin air and at no cost to them, whereas people have to work jobs and pay back the money through the debt system, nice try tho
I got into a 2 year fixed rent agreement a couple months ago. Was thinking of taking out a loan and buying a house but didn’t go through with it. Bullet dodged.
buy in 2024-25
Ha ha ha ha , mr expert over here.
bullet dodged? you will spend tens of thousands in rent you won't get back
@@Lesley_Snipes Less than he will pay in interest + property taxes + house insurance plus the capital loss on the house plus real estate and lawyer fees when he sells. We have been in a falling rate environment for 30 years, it has now ended. That is not good longer term for house prices.
@@thedualtransition6070 if you rent you GUARANTEE you will lose money. if you buy the right house at the right time and don't chose to sell or remortgage when the market dips then you will be better off. House prices will not continue to fall in value over 3+ years, the market rises then falls then rises even higher than before.
What about the supply side? Where are the oil and gas supplies to come from and at what price and what does that do to inflation / economy?
"Brits are about to relive their Victorian past." - the Ghost of Dickens
The back to the Empire never meant everyone will become a lord, even against their deepest dreams. Servants minds can't socially climb up.
Just as Jacob-Rees Mogg wanted.
I believe this is what's planned reducing us to serfdom for ever ,2 classes
@@riyadougla539 Oh, Rees-Mogg would be delighted for sure. Just like in the good old times, with child-labour, cholera and people lying in the streets. I'm sure, in his dreams he even hands out some pennies to the poor out of the window of his carriage.
the soft touch of thieves more like!
Create a crisis out of thin air, use the same people to solve the crisis...a wealth transfer= rich getting really richer, and the poor paying for it. Nothing has changed when you think about it, but the worlds opinions of us.
that can explain why ex banker is new prime minister lol
I'm English and think anti EU Tories are the same as Thatcher, when she didn't like the EU preventing Tories mistreating British people, because of the EU saying workers should have enough breaks and genetically modified ingredients should be labelled on food. Then the secret service whistle blower David Shayler told how Thatcher was going along with the USA using British money to fund Al Qaeda in Libya against Gaddafi. A country people didn't pay household bills, while more old British people were dying of the cold than before Tories stole and sold off public owned energy. It wasn't until later that Labour introduced cold weather payments to help stop old people dying. We're still being harmed by the extremists who trained in Libya after Gaddafi was killed. It might not seem a nice idea for the UK to split up, but England is run by the international bankers who need our economy to stay closely linked with USA banks, encouraging everybody to live in greed and debt. It has become worse since the 1980s, when Tories did the opposite of Germany by treating workers like dirt, making millions of people unemployed and left us an economy based on little else but encouraging everybody to live in debt, for our economy to crash by the early 90s when many couldn't pay back the debts, and crashes every few years since after the USA. Then Tories use the crashes as an excuse to make anybody suffer not any use at being a slave for the upper classes, bankers and Tory tax dodging donors. Don't expect our media to point out the truth, trying to get idiots to be all nationalist over fishing, while we have the biggest differences between rich and poor and worst pensions in north Europe. What media has bothered to remind our people that our own government funded Islamic extremists in Libya, after our own people were shot in Tunisia and blown up in Manchester by extremists who trained in Libya after Gaddafi?? England is full of Sun reading idiots who call others lefties as an insult, while they expect everybody else to pay for their children and cheer on the NHS, not realising the NHS is a lefty idea. Because they heard some Americans online using the tern to insult multiculturalism, when the USA and other capitalist countries promote multiculturalism more than any lefty country. People suddenly care what the EU thinks after voting to leave, now the international bankers can use Russia as an excuse to start WWIII. Forgetting Ireland had to spend many years fighting to leave the UK, and many in N Ireland still want to leave. How asleep do you have to be to keep voting in governments that cause university students to be £50,000 in debt, while it's free in Scotland? If the UK all split up, the international bankers/war machine wouldn't see us as any use at being a USA lapdog, and might go away to the USA, and English people will see how Scottish politicians look after their people like the rest of north Europe and Scandinavia, and then want to be the same. That's if it isn't too late and English people aren't dumbed down beyond help.
Not true! The Romans suffered recessions before they even had a word for it. When Emperors would dilute the purity of coins, the value of those coins would drop, even though there were no centralised banks, or even local banks...even the most basic forms of banking wouldn't really exist until a thousand years later during the crusades. Yet recessions always happened when rulers messed with the mint or a disaster ravaged the country. Your comment is essentially an argument from ignorance...Just because you don't understand something, that doesn't mean it isn't real.
@@michaelcoward1902 you want to Go back to Roman times. Let's at least stay within the century. Churchill did not want the NHS, safety benefits blanket or social housing. Churchill wanted " austerity" saying the "people are used to rations, keep them on rations" . Tory, Tory Tory fleecing the people.
Because of low interest rate in the past few years … all houses in the uk are over priced.
Everything is going up... Except wages.
They need to pay people better, every job is vital to someone and it costs people their time. They should be fairly paid. The UK cost of living is a rip off. We all need to unite and stop putting up with it.
Should not be a surprise, it has been on purpose. Spending huge amounts, unnecesarily in many cases, with the excuse of the pandemic, while production lowered drastically and printing enormous amounts of cash, was the best recipe for uncontrolled inflation, but the fastest way to impoverish ordinary people and make possible the transfer of wealth from the families and little business to the government, politicians, big corpotations and the super rich. That can not, and has not, been casual. The WEF is behind it like is behind Sunak and the removing of Truss, it is part of a plan
Sure, and risk political and societal upheaval. People in power dont have as much power to control these things as you think they do There was mismanagement through incompetence, but it wasn’t planned. You’re looking for someone to blame
J Berto - You're dead right!
@@vvolfbelorven7084 He's very correctly identified who's to blame!
The bizarre thing is how everyone talks about "the markets" as if they are an uncontrollable monster that operates on its own - some sort of outside force. But, that's not true. The markets are just concepts - the result of decisions made by people and those people, like the governor of the Bank of England, can change their choices and end our struggles This was clearly shown during the pandemic and lockdowns when the government and banks made instant decisions that housed all homeless people, gave everyone a 3 month mortgage break, halted all rental evictions, made it possible to work/study from home etc. It's all easy to do, but the people with the power to make those decisions just don't want to do it.
You don't get something for nothing. The bills for all those years of benefits are coming due. No one is going to keep giving Britain more when Britain owes so much to so many. The British government is losing credibility and credit fast! Why don't you give 10 or 20 trillion pounds to support your economic ideas? No one else will.
"This was clearly shown during the pandemic and lockdowns when the government and banks made instant decisions that housed all homeless people, gave everyone a 3 month mortgage break, halted all rental evictions, made it possible to work/study from home etc" Clear and easy solutions that pile up more debut for future generations so that those who have already had it good can enjoy life even further. Yeah, sure need more solutions like these ones...
While they’re at it why don’t they just print £10k in cash and just hand it to people to help with bills? Government has the power to do this but added government spending will increase inflation even more.
Is it cross your mind how they did it? They just plug in old fashion money printing machine with no cover in actual value. This is why the inflation now is out of control.
Markets are becoming uncontrollable, especially UK ones. Through finacialization, markets are no longer just buyers and sellers. They are all sorts of risk management tools, derivatives based on obligations, interest rate, exchange rate, debt rate, employment rate, etc. It's a hot mess.
Yes Thankyou toris for tbis youve all played a blinder and are getting away with it yet again.
Those calling for the government to help with their mortgages are being ridiculous. If you can’t afford interest rate rises then you shouldn’t have been approved for the mortgage in the first place
Thats what happens when the working class buy a house at 3 hundred thousand etc no on helped the people in the past if they can't afford them sell them why should the rest of us pay for them or take in the Ukraines that will pay for it simples 🏴🇬🇧🤣🤪
The 1973 recession lasted until 1975 and took over a year to recover to its pre-recession levels. The UK also had to go cap in hand to the IMF. The great slump lasted 60 years in the 1400s. So if this is going to be the longest recession the UK has ever had, we are in for a rough ride?
BP and shell etc are not in recession record profits
They don't count. They are a monopoly in disguise 🥸: they are an oligopoly. The set the price of gas and either you pay or you do without. Don't you serfs get it. They own you.
Exactly, we are in the middle of an energy crisis. Just wait until China comes back online and you factor in a fall in Russian production. Also the Strategic Petroleum Reserve is being drawn down pre midterm elections. All of that comes to around 4 million barrels per day of demand. So, if we don't see demand being crushed through a recession just think where oil prices are going to be. And oil at $90 / barrel isn't that high (especially once you take into account inflation) considering that it reached $140 in 2008 and hovered around $120 in 2013
The gov says BP and Shell will move their business if they get tax them too much
@@Justin-jh4ym bring them under state control
Wish they'd sort it out!!
I am a single superannuitant in NZ and have cut back spending dramatically..no takeaways, eating out, clothing..living a very basic /frugal life. Food, & rates for home owners have gone up dramatically. The future is financially unknown. Investments going down. I can make it through the next 2 years on my superannuation as long as I buy nothing but necessities.
Why is UK projected to have negative growth / be in recession when Europe is flat lining? What is the difference? One word - Brexit.
Europe or the EU? There's a difference.
2008 crash followed by 10 years austerity and now warnings of another recession. And today i saw a clip of a landlord saying the reason people can't afford rent is because they buy too many costa Coffee's.
Well Costa coffee is an absolute rip off
Second home ownership should be banned. Greedy landlords are the problem.
@@martynsmith8120 how are they the problem? I'm literally saving up for my second home
@@shush97 You're the reason prices are so high. I gave up on trying to buy my first house because I just can't outbid greedy people like you.
@@shush97 Because it's not needed. As he said. Greed. Home ownership should only be limited to 1 home. Being a landlord shouldn't be a job. It's disgusting & those kind of people are just leeching off of society. They give nothing, only take.
You hope.
Sunak’s own wife doesn’t pay UK taxes! How on earth are the British OK with this?
There’s no obligation to pay any tax according to the government’s own legislation 🤣👍
The income wasn’t earned in Britain. She has no obligation to offer you racists a slice of her foreign money.
Yeah his wife's company is in India , should pay taxes in UK.
Not earning any money in the UK and not bringing any money to the UK, if the tax is payed in the home country, why pay again?
If she lives in the uk she should pay tax in the uk. Bailiffs should go round and make her pay up.
10% inflation??? Tin of chunky soup went up 25% (80p - £1) in Asda.
And the tin has shrunk
The same as for pasta, olive oil, coffee, tea, meat, pretty much everything!!
Inflation is just a general number of price increases after 1 year for a general household. But for each of us we have a personal inflation and for everyone inflation is different. For example, maybe I only experience a inflation of just 5% while you might experience inflation of 25%. I have a lot of solar panels on my roof to the point I have 60% of my energy needs during a rainy day and I don't use gas. So my personal inflation is pretty low. On the other hand I've seen a lot of folks who live in old houses and need a lot of energy to keep themselves warm, those people might experience a lot of inflation.
@Cosmo || Anime Analyst This is the real crime here.
@Cosmo || Anime Analyst aldis own less than a quid !
The BoE's economic update is based upon a hypothetical worst-case scenario it thinks will never happen. The update included a second, more realistic scenario, which sees interest rates peaking a a much lower level, resulting in inflation returning to target in 2024, a shorter contraction and a more modest rise in unemployment.
Not surprised, an eye watering council tax bill an eye watering diesel bill an eye watering leccy /gas bill.... Could go on but you get the picture we are screwed by top end.... But at least we have candles and porridge... So good times..??????
"The Party Of Fiscal Responsibility."
More like, The Party of F**k All Responsibility!
@@Fionnlagh66 too true. 😏
Give credit where credit is due. "The Party of Fiscal Responsibility" is good at partying 🥳 and it is great at passing those partying costs on to taxpayers. That is fiscal responsibility from their point of view. If necessary, they could keep partying and passing the costs on to others forever. Never owing anything to anyone is fiscal responsibility. Just don't let the taxpayers catch on.
@@billgibbard9449 😂
The Conservative Party is the party of fiscal irresponsability.
Let's take a moment to thank all the Tory voters👏👏👏👏
If we started today and paid them thanks for the rest of our Lives' it still wouldn't be enough gratitude to show those wonderful wonderful people. But hey, wait, they're going to be okay so F**k the rest of us scum.
@@TORY-BLUE Yes I expect you are.
@@TORY-BLUE he says, from his mums second bedroom
Nothing makes me happier than the whinging left wing hypocrites.
@@TORY-BLUE proud of all the unnecessary deaths and suffering or just glad to see your isas finally accrue some interest and the country at large be damned? I imagine you also consider yourself patriotic, this close to remembrance day, imagine if your predecessors were so selfish putting their own interests above country. Likley you'd be happy speaking German.
UK's unemployment rate is 4-5 times higher than their official number if you look at full workforce capacity. Their calculation doesn't account for wether you work full or part-time. UK has a lot of part-time workers.
What, no mention of *_It That Must Not Be Named_* ?
Well the turkeys did vote for xmas......
Spot on, still they are defending them. Ba….rds
Yep absolute morons
The Bank of England have not taken any responsibility for QE In the past few years. Too much liquidity in the markets, as history has shown, leads to Recession.
Yes, but the question is who really decides about the QE. Presumably it is the government.
You mean the clusterfuck called supply chains plus a bit of energy price hikes?
You can’t print money for 14 years straight and not expect inflation. This FIAT currency system cannot be sustained without a reset. Which is exactly what they’re doing. Money will be replaced by CBDC’s.
What a ridiculous statement would you have done better 😂
@@willthomson550 yes I’d have let those who caused the 2008 crash go bust. It would have been cheaper than bailing them out and prevented such behaviour in the future but no, they’ve done it all over again.
These are all nuanced situations highly nuanced
Rates should never have been so low in the first place. They are simply returning to their normal level of 3-4%.
Exactly..whole economy doped on cheap money...in a year half of businesses will be bankrupt.
@@tommygunhunter no more zombie companies kept afloat by furlough handouts.
Yes! And the fed admits it. They wanted to boost the economy from the pandemic repercussions.
what is normal? 3-4%? 30 years ago, 20% was normal so please go take a economy lesson then come back tell us.
@@whosurdaddy1975 more buying power and cost of a house to income was way different 30 years ago. 20% interest on 70k mortgage vs 4% on 600k is a big difference.
Finally the sunny uplands of post Brexit Britain the freedom the sovereignty getting Brexit done at last
But what happened to leveling up up leveling meta awesomeness?
Sorry you voted out now ?
Post Covid pointless arseing around Britain more like. Or Russian sanctions Britain.
@@MrJenklns I,am from Ireland love watchng the Tory inspired destruction of one of the worlds former super powers to an irrelevant laughing stock
nothing to do with brexit more so the countless billion the torys wasted
What's gobbsmacking is that people voted for their inability to do F.A. about it. Can't start any tiny business and ship to the EU. Can't make a quick trip to offer services.
52% of 40% of the electorate voted for Brexit, so it was very much not all the people.
don't mention the B-Word! ;-)
@@brusselssprouts560 It's the same in general elections. Cry more bitter REMOANER.
You think this is about Brexit? If you were lobotomised, nobody would notice.
@@brusselssprouts560 Just like in any UK election then isn''t it?
Thank you US of A
*Canada 🇨🇦 have Same Situation*
They can’t blame the workers this time. 🤷♂️
They're still trying though with all the anti-union rhetoric.
Inflation in recession Depressing
@I'mBatman Gold star
Good to hear the Bank of England reassuring the markets.
It's almost like they want it to happen lol
Central bank Buying out pension bonds in there millions to stop the banks crashing. Yeah I know that was a month ago, but people still don’t know how close they came to losing there pensions
@@niblet112 can you share how people are close to losing pension? Is it because pensions are invested in bonds/treasury?
@@MY-fl5xl they were close a month or so ago. The central bank had to buy the bonds. There’s some very good videos about in on KZhead.
This the pm view for a better future (for the rich and bankers bonuses)
The cost of leaving the EU. The cost of paying for covid then ofgem who work for the government set energy prices sky high
Retail energy prices are set by a bourse in Holland, they set prices EU wide but, in principle you are right, it is basically a price fixing cartel.
It is the same in most countries. Perhaps a special interest rate could be created for mortgages through a special scheme.
Getting a mortgage now is a really stupid idea.
@@artificialCartoons Not if you can get a variable rate mortgage and can afford it! Not everybody is struggling, I was at a major shopping mall some weeks ago and people could not get rid of their money fast enough. They were dressed immaculately in expensive designer clothes. The car-park was full of expensive cars which made mine look like an old ‘banger’. It is only a minority who are really struggling, most people are just managing if they look after their spending. We have been here many times before, but the Media just love to talk up this situation as it makes headlines and something to fill the airtime with. Regardless of which political party is in, the same situation would apply.
lower interest rates on mortgage and consumer borrowing by amount of inflation to stimulate markets and economy, while raising interest rates on government borrowing to stop inflation
does that mean saving interests also go up?
Interest rates have been at historic lows for 15 years. They are just returning to normal.
What a relief to see an educated comment. People have been predicting this outcome since interest rates were first lowered to boost the economy may years ago. After so many years of cheap money, the adjustment and thus economic pain should still have a long way to go.
Brexit plays a role in the poor economy. The UK choosing to leave the EU is the equivalent of sanctions.
Amazing how hardly anyone takes this into account.
Inflation is higher in the Eurozone
Most people have absolutely no idea over economics on a large scale, like most important subjects there is very little taught in our schools .
@@JesterEric so what are you saying brexit hasn't affected exports, imports, investment and gdp?
@@JesterEric in some countries, but France, Germany or Italy which have similar size of economy as UK have much lower inflation then Britain. As the effect look in to Ireland - because brexit Ireland is left in limbo where they still have EU easy custom and transit rules and easy trade with rest of the UK. The inflation is not a problem there and they literally have one of the best economies and low unemployment in Europe atm.
Richie, please start gearing up for those Chicken Vindaloo and Papadum relief lines ....
Msg the digit above ↑↑ for more ideas on how to invest properly....
To the editors: Can't you juxtapose it with some sunny bright clips instead? Like a Smiths songs (miserable lyrics/happy instrumental). Thanks
Its about taking public money and putting it in private hands and "situations" under the rule of law and secrecy :)
Thing is Interest rate should not have been 0.01 that low in the first place, colossal undesirable effects of ultra low rates caused the house price spiral, vendors were taking huge advantage of easy affordability by pushing-up prices to match that would have never be possible if the BoE rate had been normal, about 6%. This correction is long overdue & in my opinion is still far too low. Inflation needs to be tackled & is far more important.
Hit the nail on the head.
Let me guess… your a pensioner who’s paid off his mortgage and who’s saving have eroded over the last 10 years. 😊
@@urinater some of us were paying 19% interest in the early nineties so we know how hard things can get. Remember to always follow the past to see what can happen in the future.
Spot on
@@michelledavies2197 yes but affordability is a lot less than those days, 6% interest is like 20% in those days. GDP per capita been flat for 14 years.. run by boomers.
Unfortunately because of Truss we can no longer try to tackle recession. We have to ride the wave and hope we come out on the other side.
Our interest rate was 17% and before people tell me how cheap property was back in the day, it wad a helluva lot of money back then.
We went into the EEC because we were 'the poor man of Europe'. Guess the Tories want to relive the glories of the past...
The IMF. Dennis Healey.
Politicians shouldn't be allowed to claim for food travel energy and any other claim they can make they should be made live off their working wage instead of saving it up
And claim on second homes in central London
Exactly. That must stop. They get away with claiming too much as well as wanting a 15 percent pay rise. They can F off.
keep printing fiat money thats what happens, wouldn't happen in a gold standard
i say good there are some people who need to struggle because they have had it to easy , as I write the majority of people in east sussex spending money like water around xmas and new year and the locals are saying there is plenty of money around
@3:10 Living your life on finance and beyond your means means being overly sensitive to interest rate rises
It is not just in Britain, economy is in difficulty world over. Italians and other Europe nations are having it much worse. But UK has to tighten it's purse. There are many loopholes being abused, but human rights groups don't allow us to stop this and serve justice.
Why re mortgage then 🤔
Sunlit uplands. Thanks Boris.
@MantisToboggan The gammons with their paid off houses.
@MantisToboggan He's all right Jack.
Expect BOE rates of 5% for 2023... No point blaming Putin, Brussels or the Duchess of Sussex: the main increases are from brexit.
The BOE should have increased interest rate early it is not because of Brexit if you look at many countries in rhe EU ie inflation in the EU is high rhat uk so check your facts ie Holland has inflation at 17%
And all the immigrants stealing housing who we have to pay for.
@@TheAzizulhuq The uk only use under 3% snd manly use gas from the North sea so when do you get your facts The BOE should have raised interest rate early when inflation was 5.3% back last year
@@alangiles184 Fact check: Netherlands CPI is 9.55%. It is in the EuroZone which has the advantage of being very stable.
@@Andrew-vx2ls The inflation in the EU is not stable at 10.9% and the dutch inflation is running at 17.9 % so this came from the EU itself so
Couldnt help but think of the old chesnut "What recession?..I was a failure in the boom".....without being facetious its felt like a recession for decades for me and many others in the UK despite working full time and having apart time night job.Theres been Austerity ...pay freezes and always promises we can see the light at the end of the tunnel which never arrives!!
It has been even worse with the Tories in.
Oh well
Shout out to all the working class with big mortgages that voted Conservatives last time. Reaping what they sowed 😔
Shout out to all the Labour voters that kept Tony and Gordon in power until they had spent all our money.
@@mattsmith1157 you are fake news.
@@mattsmith1157 😴😴
they're all a bunch of frauds, it's not one single person. THEY ARE ALL TWISTED
@@mattsmith1157 bro, they oversaw the longest period of growth in UK history and could afford to invest. It was only after the 2008 recession which no one predicted that there was a deficit that had to be dealt with
Success depend on the action or step you take to achieve it. Show me a man who has no investments I will tell you how soon he will go broke. Investment is building a safe Heaven for the future......
To earn more you need to have multiple diversified means of income so investing is a way to earn more money once it is profitable.....
If you find a way multiply your money one day you’ll wake up and realize that the money you thought you had is gone .investment is the key....
@@sanchezrebreto2202 I agree with you friend investing is the key to maintaining your financial longevity and not just investment , but an investment with guaranteed profitability....
@@mullersophia8602 Oh, it's great to see someone who also benefits from Maria Wood services, it's a small world indeed. She has been my portfolio manager and also my mentor for 2 years and still counts and I made a profit of $ 37,795 on my original amount of $ 1050 with her management of my portfolio.....
@@verinzlz7705 Hello I would like you to refer me to your personal investment manager. I will also want to know if while she manages my investment can I still access my investment portfolio to monitor and authorize any action of investment portfolio......
No problem let's start by halting hs2 which is a 30year open cheque book plan with lots of back handers.
Is it 🤔
Where's the sunlit uplands?
In the single market
Many people wasted their furlough money, or accepted furlough cash and still worked (fraud). Its low paid workers in essential sectors who worked through the lockdowns (without furlough cash) who are most impacted by inflation, and we are stuck repaying furlough money we never received. Everyone who was paid furlough cash should be on a higher rate of income tax and low paid workers who worked through the lockdowns should have a higher personal tax allowance. Tax has to be fair otherwise society will not pull together.
My Mrs is carer. They get treated like rubbish by much of the public and are paid very poorly for all the responsibility and required training they now need to have. She had to work through the pandemic, no furlough. Fishy Rishi wrote of the fraudulent billions. Who pays for it? Hard working people like my Mrs. They will claw it all back in taxes. After we pay for our home, bills etc there is next to nothing to save. Kids can't have experiences, or holidays or anything extra to look forward to. Where we live is so run down, there is very little social life for adults or clubs or things for kids to do. The odd couple of things there are a bit further afield are way too expensive. We don't get any help either as we aren't on benefits. If you are a working class family, you are overworked and over taxed, underpaid and ultimately over stressed. That's what they want though. To take every last piece of freedom and opportunity and milk society, all in service of a financial elite. Who wants to have us all working away as human cattle, but seen and not heard. It is high time people united or our kids are going to suffer for generations.
What is it like in the US
At this point, when he refers to ‘the global financial crisis’ it’s like…which one??
Oh dear; and there's worse: according to some polls 43% of Brits still think Brexit hasn't harmed the economy, and the official opposition (Labour) is in favor of continuing with it. Many other countries are doing poorly but you might have to start talking about lost generations in the UK, unfortunately.
Brexit was sabotaged by MPs not wanting to leave
Lost generations of lost minds?
Its pie in the sky. Nobody knows what the cost of Brexit is. The Brexit debate is over, nothing changes the outcome. We all had a fair vote. What we e do know is the cost of another Tory government. They have spent 12 years wasting and pilfering truck loads of our cash
lost gen in many countries as the standard of "living' (just getting by working 2... 3 jobs) goes away.
@Straight Outta Cornwall Still causing huge issues in Northern Ireland. British Loyalist terrorists issuing threats of a return to violence.
I live in Serbia and till few months ago I didn’t have to look at prices in supermarkets. I’d buy whatever I needed, mostly branded food and goods. Nowdays, I’m getting used to check around the supermarkets if something is on discount (stuff which have longer expiration date, like shaving and shower gels, toalet paper, fruit in cans etc.). One week ago, Serbian Statistics Biro gave information that average inflation is 13%. That is so untruth. Majority of Serbian citizens spend almost half of the budget on food. Since the food went almost 100%, many families are in a very bad position. And it’s not just Serbia, all my friends around the world have similar situation. We, as humanity, became poorer in finantial sence, but this can be an oportunity to stop wasting our money on things which we actually don’t need.
It is the fault of the Kosovans.
All your friends around the world? Haha Food prices in Ireland have largely remained the same... I'm on an average wage but not feeling the pinch at all 🤷♂️
@@imastaycool I don’t have a friend from Ireland🙂 I wish for Ireland to stay that way
That'll be Brexit then .
@@maybeyesmaybeno6285 hvala/Хвала ❤
We're now told that 'The state can't solve all your problems'. So from a personal perspective, I completely agree. Many people including myself have problems which could not be solved by state intervention. However, what I would like, is for the state to solve the problems it has landed us with. That's not to much to ask is it? But instead we're fed all the nonsense excuses about 'global problems'. After 12 years of the same kind of numpty government, ordinary people are dumped in a ditch. Thanks for the leadership guys.
They’re are spoiled dimple 🎉 We are overwhelmed by unwanted grace ❤
Sunlit uplands alright.